Coinbase Global (NASDAQ:COIN) Shares Up 0.7% – Should You Buy?

Coinbase Global, Inc. (NASDAQ:COIN)’s share price rose 0.7% during trading on Friday . The company traded as high as $303.60 and last traded at $303.30. Approximately 1,704,195 shares traded hands during trading, a decline of 79% from the average daily volume of 7,996,029 shares. The stock had previously closed at $301.30.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of research reports. The Goldman Sachs Group reduced their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Monness Crespi & Hardt boosted their price target on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Oppenheimer dropped their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $289.06.

Coinbase Global Price Performance

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market cap of $73.19 billion, a P/E ratio of 49.71 and a beta of 3.59. The firm has a 50-day simple moving average of $288.26 and a 200-day simple moving average of $235.66.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business earned ($0.01) EPS. The firm’s revenue for the quarter was up 78.8% compared to the same quarter last year. As a group, analysts forecast that Coinbase Global, Inc. will post 4.81 EPS for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 4,635 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the sale, the insider now owns 18,525 shares in the company, valued at approximately $4,631,250. The trade was a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick R. Wilson sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $254.89, for a total value of $2,548,900.00. Following the sale, the director now owns 90,000 shares in the company, valued at approximately $22,940,100. The trade was a 10.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 376,205 shares of company stock valued at $112,487,737 in the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently bought and sold shares of the business. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global during the fourth quarter worth $27,000. ORG Wealth Partners LLC acquired a new stake in Coinbase Global during the third quarter worth $32,000. MassMutual Private Wealth & Trust FSB increased its stake in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.